ABRDN JAPAN EQUITY FUND, INC. (JEQ) ANNOUNCES FINAL RESULTS OF CASH TENDER OFFER

abrdn Japan Equity Fund (NYSE: JEQ) has announced the completion of its cash tender offer for up to 7,072,985 shares, representing 50% of its outstanding shares.

Rhea-AI Summary

abrdn Japan Equity Fund (NYSE: JEQ) has announced the completion of its cash tender offer for up to 7,072,985 shares, representing 50% of its outstanding shares. The tender offer, which expired on September 2, 2025, saw strong participation with approximately 11,116,238 shares (78.6%) properly tendered.

Due to oversubscription, the Fund implemented a proration ratio of approximately 0.6363. Accepted shares will be purchased at $8.04 per share, representing 98% of the Fund's NAV as of September 3, 2025. Payment is expected around September 12, 2025. Following the transaction, the Fund will have 7,072,985 shares outstanding.

Positive

• Strong shareholder participation with 78.6% of outstanding shares tendered
• Purchase price set at 98% of NAV, providing liquidity near fair value
• Significant tender size offering liquidity for 50% of outstanding shares

Negative

• Proration required due to oversubscription, limiting shareholders' ability to fully exit
• Reduction in fund size may impact trading liquidity for remaining shares

Argus Sep 5 session

+2.36% close to close 0.1x rel. volume Open Argus

Details

News Market Reaction – JEQ

On Sep 5, the day this news came out, JEQ closed 2.36% above the previous close.

Data tracked by StockTitan Argus for the Sep 5 session.

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PHILADELPHIA, Sept. 5, 2025 /PRNewswire/ -- abrdn Japan Equity Fund, Inc. (NYSE: JEQ), announced today the final results of its cash tender for up to 7,072,985 shares, representing approximately 50% of the Fund's outstanding shares. The offer expired at 5:00 p.m. New York City time on September 2, 2025.

Based on information provided by Computershare Trust Company N.A., the depositary of the tender offer, approximately 11,116,238 shares of common stock or 78.6% of the Fund's outstanding stock were properly tendered, and the Fund has accepted, subject to adjustment for fractional shares, 7,072,985 shares for cash payment at a price equal to $8.04, which represents 98% of the Fund's net asset value per share ("NAV") as of the close of regular trading on the NYSE on September 3, 2025. Since the total number of shares tendered exceeded the number of shares the Fund offered to purchase, all tenders of shares were subject to proration (at a ratio of approximately 0.6363) in accordance with the terms of the tender offer. Following the purchase of the properly tendered shares, the Fund will have 7,072,985 outstanding shares. Payment of accepted shares is expected to be issued on or about September 12, 2025.

Important Information

The Fund's daily NYSE closing price and NAV, as well as other information, including updated portfolio statistics and performance are available at https://www.aberdeeninvestments.com/en-us/investor/funds/view-all-funds/ or by calling the Fund's Investor Services at 1-800-522-5465.

abrdn Inc. has prepared this report based on information sources believed to be accurate and reliable. However, neither the Fund, abrdn Asia Limited (the Investment Manager), nor any other person guarantees their accuracy. Investors should seek their own professional advice and should consider the investment objectives, risks, charges and expenses before acting on this information.

In the United States, Aberdeen Investments is the marketing name for the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited, and abrdn Asia Limited.

Closed-end funds are traded on the secondary market through one of the stock exchanges. A Fund's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the NAV of the fund's portfolio. There is no assurance that a Fund will achieve its investment objective. Past performance does not guarantee future results.

Closed-End Funds | Aberdeen 

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SOURCE abrdn Japan Equity Fund, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What was the final result of JEQ's tender offer in September 2025?

JEQ accepted 7,072,985 shares (50% of outstanding shares) at $8.04 per share, with a proration ratio of 0.6363 due to oversubscription.

How many shares were tendered in JEQ's 2025 tender offer?

Approximately 11,116,238 shares, representing 78.6% of JEQ's outstanding stock, were properly tendered in the offer.

When will JEQ shareholders receive payment for tendered shares?

Payment for accepted shares is expected to be issued on or about September 12, 2025.

What was the purchase price in JEQ's 2025 tender offer?

The purchase price was $8.04 per share, which represented 98% of the Fund's NAV as of September 3, 2025.

How many shares will JEQ have outstanding after the tender offer?

Following the purchase of tendered shares, JEQ will have 7,072,985 shares outstanding.